3 Real Estate trends to watch for in 2018

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2017 was a strong year for Toronto’s real estate market, and many industry watchers have been predicting a cooler start to 2018. But what other trends does the year have in store for us? 

According to Altus Group senior director Matthew Boukall, "the number one trend we're seeing heading into 2018 is a decline of new single family home sales, and a corresponding increase in new condo sales," which means that sales are steady, tread water, but there is a new shift in what people are buying

Other than the construction of new homes, Boukall believes that there are plenty of other trends that are in store for the Toronto housing market this 2018.

New Condo Sales to Remain Strong

While sales will remain strong in 2018, it will be difficult for them to surpass 2017's strong and firm numbers, as prices continue to rise.

 Boukall says that, "new condominium apartment sales are expected to remain elevated in 2018,". There have been 36,400 new construction condos sold in 2017, which is a huge year over year increase from the previous year 2016.
Strong Land Sales

Boukall predicts that demand for land in the GTA will only grow in 2018. “We’re not seeing a weakening demand heading into the new year,” he says. “Right now the level of demand and is pretty much being matched by the number of sales.”

 The demand exists across commercial, industrial and residential markets, but Boukall says there’s a lot of interest in high density residential development.

 “With the way the market is moving right now, there’s a lot of reasons to buy land to build high density buildings, like condo apartments,” he says.
Strong Appetite for Investment Property

 “We’re bullish on investment property because the economy in the GTA continues to power forward,” says Boukall.

 There has been an increase in migration to the area, a tight market, and record demand as reasons for investors to continue to throw their money at the Toronto market grow.
“If you’re looking to invest in Canadian real estate, the Toronto market is the sensible are to invest in,” he says. Especially when it comes to commercial property, rent is only going up it’s an attractive investment.


Source - http://news.buzzbuzzhome.com/2018/01/3-toronto-real-estate-trends-watch-year.html 

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